West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-03 - Exemption Of property from ad valorem property taxation
Section 110-3-14 - Mortgages, Bonds, And Other Evidence Of Indebtedness In The Hands Of Bona Fide Owners And Holders Sold By Churches And Religious Societies For The Purpose Of Securing Money To Be Used In The Erection Of Church Buildings Used Exclusively For Divine Worship
Current through Register Vol. XLI, No. 38, September 20, 2024
14.1. Mortgages, bonds, and other evidences of indebtedness in the hands of bona fide owners and holders sold by churches and religious societies for the purpose of securing money to be used in the erection of church buildings used exclusively for divine worship, or for the purpose of paying indebtedness thereon, are exempt.
14.2. Upon implementation of the First Statewide Reappraisal of property which is required pursuant to W. Va. Code '11-1A-1 et seq., no intangible personal property shall be subject to ad valorem property taxes unless such taxation is subsequently provided for by an act of the Legislature. Therefore, the question as to whether the intangible personal property addressed under this section is exempt from ad valorem property tax will become moot at that time.
